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Yes Bank MCLR Rates, Yes Bank Base Rate – Jul 2021

Yes Bank MCLR Rate

Last Updated 19th Jul 2021

Current MCLR rate of Yes Bank ranges from 6.20% to 8.45% varying by reset frequency of the loan. Yes Bank revises MCLR rates on a monthly basis and benchmark its interest rates for home loan and other loans to MCLR rates of different tenors.

Tenure wise MCLR Yes Bank Rate Today
Overnight 6.20%
1 Month 6.70%
3 Month 6.95%
6 Month 8.00%
1 Year 8.45%
Yes Bank Base Rate 9.00%
Apply for Home Loan @ 6.65% *

Yes Bank Interest Rates

Yes Bank offers the following loans to its customer on these rates currently:

Home Loan Interest Rates 8.95% * Floating Detail
Loan Against Property Rates 8.95% * Floating Detail
Personal Loan Interest Rates 10.70% to 19.99% Detail
Business Loan Interest Rates 16.25% to 19.99% Detail
Gold Loan Interest Rates 9.99% to 9.99% Detail
Fixed Deposit Interest Rates 3.25% to 6.50% Detail
Saving Account Interest Rates 4.00% to 5.50% Detail
RD Interest Rates 5.50% to 6.75% Detail

MCLR of Yes Bank

Yes Bank revises its MCLR rate on a monthly basis. Latest MCLR rates of Yes Bank as announced on 01 Jul 2021 are:

  • Overnight MCLR Rate is 6.20%.
  • 1 Month MCLR Rate is 6.70%.
  • 3 Month MCLR Rate is 6.95%.
  • 6 Month MCLR Rate is 8.00%.
  • 1 Year MCLR Rate is 8.45%.
  • 2 Year MCLR Rate is 0.00%.
  • 3 Year MCLR Rate is 0.00%.
  • 5 Year MCLR Rate is 0.00%.

Yes Bank MCLR Rate Trend

Date Yes Bank MCLR
01st Jul 21 Overnight : 6.20%
1 Month : 6.70%
3 Month : 6.95%
6 Month : 8.00%
1 Year : 8.45%
01st Jun 21 Overnight : 6.20%
1 Month : 6.70%
3 Month : 6.95%
6 Month : 8.00%
1 Year : 8.45%
01st May 21 Overnight : 6.20%
1 Month : 6.70%
3 Month : 6.95%
6 Month : 8.00%
1 Year : 8.45%
01st Apr 21 Overnight : 6.20%
1 Month : 6.70%
3 Month : 6.95%
6 Month : 8.00%
1 Year : 8.45%
01st Mar 21 Overnight : 6.20%
1 Month : 6.60%
3 Month : 6.90%
6 Month : 8.00%
1 Year : 8.45%
01st Feb 21 Overnight : 6.20%
1 Month : 6.60%
3 Month : 6.90%
6 Month : 7.95%
1 Year : 8.40%
01st Jan 21 Overnight : 6.20%
1 Month : 6.60%
3 Month : 6.90%
6 Month : 8.05%
1 Year : 8.40%
02nd Nov 20 Overnight : 6.35%
1 Month : 6.80%
3 Month : 7.75%
6 Month : 8.40%
1 Year : 8.80%
01st Oct 20 Overnight : 6.35%
1 Month : 6.95%
3 Month : 7.90%
6 Month : 8.50%
1 Year : 8.80%
01st Oct 20 Overnight : 6.35%
1 Month : 6.95%
3 Month : 7.90%
6 Month : 8.50%
1 Year : 8.80%
01st Sep 20 Overnight : 6.70%
1 Month : 7.45%
3 Month : 8.20%
6 Month : 8.60%
1 Year : 9.00%
01st Aug 20 Overnight : 7.05%
1 Month : 7.80%
3 Month : 8.55%
6 Month : 8.95%
1 Year : 9.10%
  • Effective 1st April 2016, Yes Bank has been directed by RBI to fix its loan interest rates benchmarked to MCLR rate which is based on its marginal cost of funds. Earlier, the bank fixed its loan interest rates to Base Rate, which was based on total cost of funds of the bank. Yes Bank MCLR rates for different tenors range from 6.20% to 8.45%.
  • RBI allows banks to set their own MCLR Rate based on their marginal cost of funds which means the cost of raising new funds for the bank. So, Yes Bank decides and announces its MCLR rate regularly based on prescribed formula and policy rate changes by RBI in its monetary policy.
  • Note that the RBI does not decide the MCLR Rate of any bank. RBI only announces the repo rate, which influences the cost of raising new funds for the bank. Banks may or may not decide to change their MCLR rate in response to changes in the repo rate. For instance, Yes Bank may decide to bring a lower cut in their MCLR rate compared to a Repo Rate cut. If RBI cuts the repo rate by 50 basis points or 0.5%, Yes Bank may decide to cut its 1 Year MCLR rate only by 0.25% based on its internal funding and liquidity position. Hence, it is important to compare the MCLR rate change of Yes Bank with that of RBI Repo Rate and MCLR Rate changes of other banks before taking a decision to take a loan from Yes Bank.
  • MCLR rate can be revised by Yes Bank every month. However, it is not mandatory for Yes Bank to revise its rate every month and it may choose to retain the same rate for a longer period keeping them unchanged.
  • As per the latest regulations given by RBI, with effect from April 1, 2019, all floating interest rates on retail loans are to be linked to external benchmark lending rates. These could be the RBI's repo rate, three-month treasury bill yield, six-month treasury bill yield or other benchmark rate published by the Financial Benchmarks India Pvt Ltd.This was done in view to promote the easier transmission of reduced interest rates to customers, which was not well done when rates were linked to MCLR.

Yes Bank Home Loan Interest Rate and MCLR

  • Every floating rate loan sanctioned by Yes Bank is benchmarked to its MCLR Rate for a particular tenure, say 1 month or 3 month or 6 months.
  • Shorter duration loans such as cash credit, OD facility, personal loans are linked to short tenure MCLR rate while longer duration loans such as home loan, loan against property, vehicle loan are linked to longer duration MCLR rates.
  • The applicable rate of interest on a floating rate loan will consist of two parts - the applicable benchmark rate and the spread or margin above the benchmark.

Compare Yes Bank MCLR Rates with Other Banks

About Yes Bank

  • Yes Bank's registered office is located at YES BANK Tower, IFC – 2, 15th Floor, Senapati Bapat Marg, Elphinstone (W), Mumbai 400 013, India..
  • Yes Bank's management is led by its CEO Mr. Prashant Kumar.
  • Its current Base Rate is 9.00%, which was last revised on 01st Feb 21.

FAQs

What is the MCLR of Yes Bank?

Yes Bank MCLR ranges between 6.20% to 8.45% for a tenure ranging between 1 month to 5 years.

What is the current Yes Bank MCLR rate?

Current Yes Bank, overnight tenure is 6.20%, 1 month mclr is 6.70% , three month mclr is 6.95%, six month mclr is 8.00%, one year tenure is 8.45% and two year tenure is 0.00%.

What is Yes Bank base rate?

Currently, Yes Bank offers loans at a base rate of 9.00%.


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Yes Bank News - Jul 2021
  • 2021-06-02 : Yes Bank revised its MCLR for the month of June
    Yes Bank changed its MCLR with effect from 1 June 2021. The overnight MCLR is 6.20%, MCLR for one month stands at 6.70%. The three months MCLR is 6.95%, and the rates for six months is 8%. Further, the one-year MCLR is 8.45%.
  • 2021-05-12 : Revised marginal cost of lending rate for Yes Bank
    Yes Bank changed its MCLR with effect from 1 May 2021. The overnight MCLR is 6.20%, MCLR for one month stands at 6.70%. The three months MCLR is 6.95%, and the rates for six months is 8%. Further, the one-year MCLR is 8.45%.
  • 2021-04-12 : Yes Bank revised its MCLR for the month of April
    Yes Bank changed its MCLR with effect from 1 April 2021. The overnight MCLR is 6.20%, MCLR for one month stands at 6.70%. The three months MCLR is 6.95%, and the rates for six months is 8%. Further, the one-year MCLR is 8.45%.
  • 2021-02-04 : Revised MCLR for Yes Bank
    Yes Bank changed its MCLR with effect from 1 February 2021. The overnight MCLR is 6.20%, MCLR for one month stands at 6.60%. The three months MCLR is 6.90%, and rates for six months is 7.95%. Further, one-year MCLR is 8.40%.
  • 2020-10-06 : Yes Bank revised its MCLR
    With effect from October 1, 2020, Yes Bank changed its MCLR. The overnight MCLR is 6.35%, MCLR for one month stands at 6.95%. The three months MCLR is 7.90%, and rates for six months is 8.50%. Further, one-year MCLR is 8.80%.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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